Starting a New Business? Consider Hiring an Experienced Attorney First

Planning to Start Your New Business 

Starting a business is one of the most exciting things you can do. Is it best to operate as a sole proprietor, a partnership, a limited liability company ("LLC") or a corporation? Are the benefits of limiting your liability worth the costs involved? If you are starting the business with a partner or an investor, what steps will you take to make decisions and resolve (and avoid) disputes? How will you deal with the inevitable departure of one of the business partners or investors? By having a good partnership, LLC operating or shareholders' agreement, you can help avoid the errors many enthusiastic entrepreneurs make when they hastily form a business relationship without these documents or try to do it by themselves.

In order for a business to grow and develop, it often needs the advice of an experienced attorney. Without the help of an in-house general counsel, the small company must rely on outside counsel to enter into a lease on the most favorable terms, or to develop standard form agreements for its customers, suppliers, employees and independent contractors. As well, privacy agreements are needed to protect the intellectual property belonging to the founder(s) or the company. Kurzon LLP can help with all these matters efficiently so as to help a start-up company preserve its limited capital.

Financing Your Business for Growth

In order for a business to really grow, it needs capital to make investments in equipment, supplies and human resources. Your company may be seeking to do a round of angel (or seed) capital to help you get going initially with friends and family. It is just as important to document a transaction thoroughly when dealing with close associates, family and friends due to the possibility of a dispute looming in the not-so-distant future, especially when the business is successful and there is something worth fighting for. If your business is past its initial capital stage, and would like to work with venture capital, it is essential that a small business have an experienced attorney to negotiate the terms that a venture capital firm will impose. In exchange for venture capital's commitment of time and monies to the company, they usually provide terms most favorable to them. Experienced attorneys are able to help the company navigate the onerous documentation that can come with financing, which can be negotiated to be more in the company's our founder(s)' favor. With regard to financing companies' growth, our corporate attorneys in NYC have experience in dealing with equity financing, bank loans, promissory notes, other forms of loan agreements, convertible notes and joint ventures, each of which may be an excellent way for your small business to raise capital and grow.

Exit Strategies

Often, the founder of a business or an investor would like to exit the business, either partially of fully. It may be related to a dispute with the other business owners or simply a desire to cash in on success. What are the restrictions on transfer of a stock? Will the transaction trigger any pre-emptive rights, co-sale or tag-along rights? If the entire business is being sold, we can help ensure the business purchase and sale agreement is accurately drafted. An experienced mergers and acquisitions lawyer should help draft and negotiate these agreements to avoid surprise and possible litigation later.

With all our clients and for all our practice areas, we seek to be skilled legal advisors, problem-solvers and trusted confidants to ensure thoroughness, candor and results.

Consider hiring us as your corporate attorneys in NYC. We are experienced business attorneys in New York.